Interest Rate Lock

In this video, learn how to strategically lock your interest rate to save money and avoid unnecessary headaches. Finding the optimal lock period is crucial: lock too long, and you pay more interest; lock too short, and you face pricey extensions. In a low-rate environment, it's best to wait until you're out of underwriting before locking in for the shortest period possible. This approach helps avoid extension costs, ensuring you secure a great rate at the right time.

Key Takeaways:

• Strategy for locking interest rates to save money.
• Balancing the lock period to avoid higher interest and extension costs.
• Optimal timing for locking rates in different rate environments.

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